US Senate schedules 27 January markup of crypto bill; text released 21 January

On 21 January, Senate Agriculture Committee Chair John Boozman published updated language for the Digital Commodity Intermediaries Act and set a 27 January committee markup. The proposal would empower the CFTC to supervise crypto spot-market activity via intermediaries, create a retail user advocate with semi-annual reporting, and fund oversight through industry fees plus an initial $150 million.